Home / Front Page/ New SEC Bill enters P’ment

New SEC Bill enters P’ment


Comments / {{hitsCtrl.values.hits}} Views / Thursday, 7 December 2017 01:15


By Ashwin Hemmathagama, Our Lobby Correspondent

The New Securities Exchange Bill, which provides the necessary legal framework for curbing market misconduct and providing protection for whistleblowers, was moved in Parliament yesterday. 



The Government aims to repeal the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987 and replace it with the new Bill, which will provide for establishing the Securities and Exchange Commission of Sri Lanka; to regulate market institutions, public offers of securities, market intermediaries; to deal with market misconduct and to meet the challenges encountered by securities markets in an effective and efficient manner. 

The Bill encompasses the SEC’s powers, duties and functions of the Chairman, and staff; market and market institutions, establishment, operation and regulation of exchanges, clearing house, central depository, issue and trading of listed and unlisted securities, protection of client’s assets, establishment of a and role of recognised market operator. 

The Bill widely expressed market misconduct, lists prohibited conduct and insider trading, funds of the Commission and the funds to provide compensation to investors, provisions relating to the institutional framework and provisions relating to the enforcement mechanism. 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Depreciating rupee: Avoiding a money-go-round

Wednesday, 17 October 2018

Sri Lanka’s excessive reliance on foreign capital to finance investment under favourable external financial conditions is now leading to disruptions, as those conditions change in a decisive interest rate tightening phase in the United States. As U


Responsible water stewardship in Sri Lanka

Wednesday, 17 October 2018

Unlike many of our regional neighbours, Sri Lanka is blessed with an abundant water table. However, many companies do not feel the full value of this precious resource due to the limited regulation and monitoring of fresh water extraction for busines


Economy in disarray, banks flourishing; can this be true?

Wednesday, 17 October 2018

It is earlier reported that the growth in bank credit accelerated in August despite the tight credit and money conditions and rising non-performing loans in the banking sector. It is further reported that the year-on-year (YoY) growth in credit accel


1/3 of your training budget should be spent on developing leaders for boosting corporate performance

Wednesday, 17 October 2018

“Great companies spend an average of 32% of their training budget on leadership development.” – Brandon Hall’s leadership survey The highest Return On Training Investment (ROTI) comes from helping your managers sharpen the leadership skills


Columnists More